Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2015
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0545 Possessory Interests. A change in ownership requiring reappraisal occurs upon the creation, renewal, sublease, or assignment of a taxable possessory interest in tax-exempt real property. Where an improvement is privately owned, only the possessory interest in the land is to be reappraised. LTA 3/21/1980 (No. 80/48).